when does 30 days late appy

I read somewhere on this board that 30 days late is the same as 1 day late with some creditors. Call them and ask or let them know you are paying late.

 

Most will report you late if you are even 1 day late. I screwed up once, and called right away, they didn't report it late. But 20 days? Can't get away with it unless there's a real good reason.

 

The method I've seen with some lenders is 1-30, 31-60, 61-90, and 90+ days late.

If you know you're going to be late, it's better to call ahead & ask them to change your due date.

 

No it is not... if you had not made a payment for the Dec 21st Due date until after the Jan 21st due date then it would be 30 days... and reported to CRA as such..

 

Tell that to the credtiors!!!! There are several people on this board as well as others who have only been a few days late and hit with a 30 day late entry.

 

Then these people need to sue!!!!!!!!!!!!!!!!!!

 

I'm pretty sure that it's not 30 days late until 30 days after the due date. I.e., if the due date is Dec 21, it's not 30 days late until Jan. 20. If your creditor reports it otherwise, call them and ask them to correct their reporting.

-ingenue

 

I think you are right. I have been hit with late fees but not 30-late notations if I pay within 30 days of the due date.

 

There is no FTC guidance on this issue. I do have a CSC explanation sheet that has the following:

1 = paid as agreed
2 = 30+ days past due


Well, I am pretty good with math, and 1 day does not equate to 30 days plus. My banker said it is 30 days plus. Also, I spoke with a CSR at Equifax who told me that 30 days late means at least 30 days late, but of course it doesn't matter what she thinks. It only matters what is and isn't in writing.

Maybe someone can sue a creditor for reporting 30+ days on an account that is just a few days late and let us all know what the decision is? I would like to know.